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COVID curbs Chinese soy demand
News

COVID curbs Chinese soy demand

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Reuters – Plunging demand for soyoil in China is expected to cut consumption as COVID-19 lockdowns have shuttered restaurants and canteens, according to traders and analysts. China is the world’s top consumer of edible oils, with millions of restaurants guzzling about half of the country’s roughly 17 million tonnes of soyoil. But a two-month lockdown
ICE July 2022 canola (candlesticks) with Bollinger bands (20,2) and November 2022 canola (yellow line). (Barchart)
Crops, Markets

ICE weekly outlook: Canola sideways for now

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MarketsFarm — The ICE Futures canola market may have seen some large price swings over the past few weeks, but remains relatively rangebound overall with values sitting just below their all-time highs. The upward momentum is slowing down, said David Derwin, a commodities investment advisor with PI Financial in Winnipeg. However, he added, it remains
Markets, News

Brazil’s JBS says China lockdowns won’t affect demand, logistics a concern

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Brazilian meat giant JBS SA played down the effects of COVID-19-related lockdowns in China, saying they would not affect demand for JBS products despite causing logistics concerns, according to management remarks on May 12. During the first quarter, inventories rose in the United States because of logistics issues that also hampered U.S. ports, increasing costs
Huawei Technologies’ logo is shown on its France headquarters at Boulogne-Billancourt just west of Paris on Feb. 17, 2021. (Photo: Reuters/Gonzalo Fuentes)
Crops

Canada to ban Huawei/ZTE 5G equipment, joining Five Eyes allies

Move comes as diplomatic tensions ease, canola block lifted

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Ottawa | Reuters — Canada on Thursday said it plans to ban the use of China’s Huawei Technologies and ZTE Corp. 5G gear to protect national security, joining the rest of the so-called Five Eyes intelligence-sharing network. “We intend to exclude Huawei and ZTE from our 5G networks,” Industry Minister Francois-Philippe Champagne told reporters in
(Xinzheng/Getty Images)
Crops, Markets

China lifts block on Canadian grain firms’ canola exports

Canola from Richardson, Viterra again allowed, officials report

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Officials say China has reinstated market access for two major grain firms whose exports of Canadian canola have been blocked from Chinese ports since 2019. Canada’s Trade Minister Mary Ng and Agriculture Minister Marie-Claude Bibeau, in a joint statement Wednesday, confirmed the decision by Chinese customs officials allowing Richardson International and Viterra to resume canola
CME July 2022 lean hogs (candlesticks) with 20-, 50- and 100-day moving averages (pink, brown and dark red lines). (Barchart)
Livestock, Markets

U.S. livestock: CME lean hogs extend recovery from recent slide

Live cattle, feeder cattle lower

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Chicago | Reuters — Chicago Mercantile Exchange lean hog futures rose for a third consecutive session on Tuesday as the market continued to recover from oversold conditions, traders said. Live cattle and feeder cattle futures ended lower. Short-covering helped propel hog futures higher following recent declines, said Matt Wiegand, commodity broker for FuturesOne. The market
CME July 2022 lean hogs (candlesticks) with 20-, 50-, 100- and 200-day moving averages (pink, brown, dark red and black lines). (Barchart)
Livestock, Markets

U.S. livestock: CME lean hogs drop to January lows

Lower grain values continue to lift cattle

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Chicago | Reuters — CME lean hog futures on Tuesday dropped to their lowest prices since January on technical selling and concerns about risks to demand for U.S. meat, brokers said. U.S. pork exports to China have tumbled this year as Chinese producers rebuild their herds after outbreaks of the pig disease African swine fever.
“Overall demand for soymeal has come down as the use of soymeal in both hog and poultry feed has fallen.” – soybean crusher manager.
Markets, News

Chinese soybean crushers slow bean buying on poor margins

USDA forecasts lower exports to China

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Reuters – Chinese soybean crushers have slowed bean purchases for deliveries through August as poor margins curbed appetite, traders and analysts said. Reduced demand in the world’s top soybean buyer could cut China’s appetite for bean imports, already forecast to drop in 2021-22 by nearly 10 per cent from a year ago due to poor livestock production margins

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